All information about the Credit One Bank Platinum Visa for Rebuilding Credit card has been collected independently by MoneyGeek.com. The issuer did not provide the content, nor is it responsible for its accuracy.
MoneyGeek’s Take
Credit One Bank® Platinum Visa® for Rebuilding Credit Review
Updated: November 20, 2024
Advertising & Editorial Disclosure
MoneyGeek partners with leading industry experts and advertisers to help you get to your financial happy place. Our content is accurate when posted but offers may change over time. We may receive compensation for partner advertisements, but our editorial team independently reviews and ranks products. Learn more about our editorial policies.
Credit One Bank® Platinum Visa® for Rebuilding Credit
On Issuer's Site
Rewards Rate
Earn 1% cash back on eligible purchases including ...APR
29.24% VariableAnnual Fee
$75 first year, then $99 annuallyRecommended Credit
300 – 670 (Bad to Fair)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
WHY TRUST OUR REVIEWS
MoneyGeek’s methodology includes collecting credit card information, standardizing data points, analyzing potential cardholder profiles, considering annual and introductory bonuses, establishing the card values and reviewing data monthly to reprocess rankings.
The Credit One Platinum Visa Card for Rebuilding Credit offers unlimited 1% cash back rewards on eligible gas, grocery, mobile phone service, internet service, cable and satellite TV purchases. You can redeem these rewards as a statement credit on your monthly credit card bill.
This card helps people with bad credit scores rebuild their credit. You can see if you pre-qualify for this card by filling out a form on the Credit One Bank website without affecting your credit scores.
Credit One Bank® Platinum Visa® for Rebuilding Credit Overview
Learning more about the rewards structure of the Credit One Platinum Visa Card for Rebuilding Credit can help you understand the reward potential of this card.
Quick Take
- 3% or $1 foreign transaction fee
- Late fee of up to $39
- 1% cash back on eligible gas, grocery and service purchases/subscriptions for satellite TV, mobile phone, cable and internet
Important Card Details
The fine print of the Credit One Platinum Visa Card for Rebuilding Credit will give you an overview of the fees associated with it, such as its APR, annual fee, late payment fee, cash advance fee and foreign transaction fee.
Regular APR
With a variable regular APR of 29.74%, you can accrue a lot of interest with this card if you don’t pay off your balance each month. Also, this card may not offer a grace period for making the minimum payment.
Annual Fee
This card has a yearly fee of $75 for the first year. After that, you’ll pay $99 annually, which means that you will have to spend $9,900 in a year just to offset the annual fee with cash back rewards.
Late Payment Fee
If you don’t make your minimum monthly payment before the due date, you can incur a late payment fee of up to $39. This makes it more important to pay off your balance in full before the due date.
Cash Advance Fee
The cash advance fee of this card is 8% of the amount, or $5, whichever is greater.
Foreign Transaction Fee
You’ll pay a foreign transaction fee of 3% of the total amount if you use this card while traveling internationally. If you are a frequent traveler, this card may prove to be expensive.
Additional Benefits
Looking over other features offered by the Credit One Platinum Visa Card for Rebuilding Credit can help you make a decision about the card.
- Credit Protection Program: In case of job loss or disability, this program prevents your credit score from dropping by covering your card’s minimum payment.
- Account Alerts: You get 24/7 alerts through text, email and phone, which helps keep your account secure from fraudulent activity.
- No Security Deposit: Unlike other credit-building cards, this card does not require a security deposit.
How the Credit One Bank® Platinum Visa® for Rebuilding Credit Compares To Other Cards
While the Credit One Platinum Visa Card for Rebuilding Credit offers an opportunity for people with bad credit scores to rebuild their credit, many other cards are available that are much better than this one in terms of cash back rewards rate.
In-Depth Credit Card Comparisons:
How the Credit One Bank® Platinum Visa® for Rebuilding Credit Compares
Credit One Bank® Platinum Visa® for Rebuilding Credit
- Purchase APR: 29.74% variable
- Annual fee: $75 for first year, then $99
- International transactions fee: 3%
- Cash back rate: 1%
- Best for: People with bad credit scores looking to rebuild their credit
Capital One Quicksilver Cash Rewards Credit Card
- Purchase APR: 19.99% – 29.99% variable
- Annual fee: $0
- International transactions fee: $0
- Cash back rate: 1.5%
- Best for: International travelers and people looking for straightforward cash back reward rates
Frequently Asked Questions
What is the average credit score needed to get approved for the Credit One Bank® Platinum Visa® for Rebuilding Credit?
You can get approved for this card even if you have bad credit scores, which are generally below 670.
Does Credit One Bank® Platinum Visa® for Rebuilding Credit report to all three credit bureaus?
Yes, Credit One Bank reports to all three credit bureaus.
What information is needed to apply for the Credit One Bank® Platinum Visa® Card for Rebuilding Credit?
Generally, Credit One Bank would need your legal name, birth date, address, Social Security number and annual income.
Does Credit One Bank® Platinum Visa® for Rebuilding Credit have good customer service or satisfaction?
Yes, the customers of Credit One Bank consider the guidance provided by its customer service agents quite satisfactory.
Does Credit One Bank® Platinum Visa® for Rebuilding Credit have a mobile app or the option to pay or manage your account online?
Yes, Credit One Bank has a mobile app that can be used to manage your account online.
Does Credit One Bank® Platinum Visa® for Rebuilding Credit raise credit limits automatically or charge for limit increases?
Credit One reviews your credit limit every few months and may raise your limit automatically in some cases.
Does Credit One Bank® Platinum Visa® for Rebuilding Credit offer the options to freeze your credit/account or have other security features?
Yes, Credit One Bank offers many different features to keep your account secure.
Does Credit One offer other credit cards besides the Credit One Bank® Platinum Visa® for Rebuilding Credit?
Yes, Credit One Bank offers Credit One Bank® Platinum X5 Visa®, Platinum Rewards Visa with No Annual Fee and many other cards.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.